Posted: July 09, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF073124-03

Agenda Item Title:

Acknowledge the May 2024 Sales Tax Report

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/31/2024
City Council Hearing Date:
08/05/2024
Petitioner:
Finance Department
Staff Contact:
Daniel Ainslie
Location:
Council Chambers
Agenda Item Summary:
The attached charts include a summation of sales tax received for May 2024. The General 2% Sales Tax collected in May 2024 was 4.69% higher than collections in 2023 and collections for the first five months of the year were 3.88% higher than the same time period in 2023. The General Fund Sales Tax collection trend is 0.1% lower than budgeted. The Tourism Sales Tax collected for May 2024 was 10.3% higher than collections in 2023 and collections for the first five months of the year were 4.48% higher than the same time period in 2023.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

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